Successful share issue of BRE Bank

Successful share issue of BRE Bank

All shares offered by BRE Bank in its rights issue have been subscribed. The Bank is set to raise PLN 1.98 billion representing an important element of the strategy announced in March.

During the subscription period, investors submitted 3,693 subscriptions for 12,287,554 new shares in total, thus exercising 99.3% of their pre-emptive rights. In accordance with its previous declarations, Commerzbank, BRE Bank's main shareholder with 69.8% of voting capital, fully exercised its pre-emptive rights.

Moreover, as part of additional subscriptions, investors subscribed for 7,050,232 new shares. Consequently, the demand for the Bank's shares exceeded by 6.966.586 the number of shares offered. BRE Bank's strategy including the capital increase has been viewed positively by investors. As a result, all the shares have been subscribed and the Bank is set to raise the expected amount, said Mariusz Grendowicz, president of BRE Bank. The great confidence from investors supports us in attaining our goals, thus boosting shareholder value, he added.

The shares issue is a component of the BRE Bank strategy for 2010 – 2012 announced at the beginning of March, which, among others, provides for reinforcing the three core areas of the Bank's operations: retail, corporates and financial markets. BRE Bank is a strong player both among retail customers, as well as corporate clients. In the face of expected economic improvement, the Bank wants to exploit this potential. The Bank wants to offer to mBank clients faster and more convenient on-line access to products, including credit facilities, and to MultiBank clients the Bank wants to offer the highest quality and efficiency of services. Additionally, BRE Bank wants to intensify its support for enterprises’ development.

Subscription for shares of the new issue was available from 19 to 26 May. The issue was addressed to investors entitled to exercise pre-emptive rights (giving priority to existing shareholders to acquire shares of the new issue proportionally to their current holdings) and to participate in additional subscriptions. A shareholder holding 12 pre-emptive rights was entitled to subscribe for 5 shares of the new issue at the issue price of PLN 160 per share.

In line with the schedule, the allotment of new shares will take place on 9 June 2010. The first listing of the Allotment Certificates (PDA) is expected on or before 17 June 2010.

Disclaimer:
This material is for informational and promotional purposes only and under no circumstances shall constitute the basis for a decision to invest in the shares of BRE Bank S.A. with its seat in Warsaw (the “Bank”) in the rights issue offering. This material does not constitute an offer to sell, or an invitation to subscribe for or to buy, any securities of the Bank. In particular, this material is not an offer of securities for sale in the United States.
The prospectus (the “Prospectus”) prepared in connection with the public offering of shares in the Bank, including pre-emptive rights as well as admission and introduction thereof to trading on the regulated market (main market) operated by the Warsaw Stock Exchange (the “WSE”), constitutes the sole and only legally binding offering document containing information about the public offering of the Bank’s securities in Poland (the “Offering”). On 12 May 2010 the Financial Supervision Authority approved the Prospectus. The Bank made the Prospectus available on its website (www.brebank.pl) and on the website of Dom Inwestycyjny BRE Banku S.A. (www.dibre.com.pl).
This material is not for distribution, directly or indirectly, in or into the United States, or in other countries where the public dissemination of the information contained herein may be restricted or prohibited by law. The securities referred to in this material have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act of 1933.
The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. This material is not for distribution in the United States, Canada, Japan or Australia.
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